nVent Electric plc (NYSE:NVT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of nVent Electric plc (NYSE:NVTGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $72.20.

A number of research firms have commented on NVT. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. The Goldman Sachs Group increased their price target on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada raised their target price on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Citigroup raised their target price on nVent Electric from $59.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, December 11th.

Check Out Our Latest Stock Report on nVent Electric

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. Insiders have sold a total of 400,252 shares of company stock valued at $25,713,777 over the last three months. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in nVent Electric by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock valued at $619,079,000 after acquiring an additional 302,124 shares during the period. BlackRock Inc. lifted its holdings in nVent Electric by 0.8% during the 1st quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock valued at $654,914,000 after purchasing an additional 128,168 shares during the last quarter. FMR LLC increased its position in nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after buying an additional 1,932,142 shares during the period. Franklin Resources Inc. increased its position in nVent Electric by 2.9% during the 2nd quarter. Franklin Resources Inc. now owns 5,751,280 shares of the company’s stock worth $297,169,000 after buying an additional 164,267 shares during the period. Finally, State Street Corp increased its position in nVent Electric by 1.7% during the 1st quarter. State Street Corp now owns 4,842,509 shares of the company’s stock worth $207,932,000 after buying an additional 81,399 shares during the period. 87.76% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NVT stock opened at $70.64 on Tuesday. nVent Electric has a 1 year low of $40.00 and a 1 year high of $71.41. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.50 and a beta of 1.34. The stock’s 50-day moving average is $63.24 and its two-hundred day moving average is $57.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82.

nVent Electric (NYSE:NVTGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts predict that nVent Electric will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.08%. nVent Electric’s payout ratio is presently 22.55%.

nVent Electric Company Profile

(Get Free Report

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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